Category: Shipping and Transport
USD160mn ADB loan to modernize Sri Lanka’s railway sector
Aug 20, 2019 (LBO) – Sri Lanka’s government has mobilized loan assistance amounting to 160 million dollars from the Asian Development Bank (ADB) to cater to the increasing demand of the Railway Sector through modernization of the railway operations and thereby improving the efficiency of services provided by Sri Lanka Railways. The total estimated investment […]
Sri Lanka commence construction of USD2.2Bn LRT project
Aug 16, 2019 (LBO) – The Ministry of Megapolis and Western Development has commenced phase one of the construction work of the Malabe and Colombo Fort Light Rail Transit (LRT) project. The Ministry has commenced the borehole testing of 200 locations to start construction of the pillars required for the LRT. Five specialized companies have […]
Hayleys records Rs.52.6Bn turnover in first quarter 2019/20
Aug 09, 2019 (LBO) – Hayleys PLC, demonstrated resilience in challenging conditions to record an improvement in turnover and operating performance during the first quarter of the 2019/20 financial year. The Group’s turnover grew by 4 percent to 52.6 billion rupees during the period, upheld mainly by the top line growth in Hand Protection (+10%), […]
Ceylon Chamber announces Sri Lanka investment and business conclave 2019
The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, the Department of Commerce and the Sri Lanka Export Development Board will be organizing Sri Lanka Investment and Business Conclave 2019 […]
BOI issues directive to all Hub Operators banning importation of post-consumer materials
July 26, 2019 (LBO) – Sri Lanka’s Board of Investment has issued a directive to all Hub Operators prohibiting with immediate effect, importation of post-consumer materials and engaging in any resources recycling activities of any form. The BOI said in a statement that they will take stern action for any non-compliance of its directives and […]
ETL Colombo denies claims as the importer of waste cargo
Jul 25, 2019 (LBO) – ETL Colombo (Pvt) Ltd. outrightly denied any claims that they are the ultimate importer of the 130 containers of “Used Mattresses” imported to Hayleys Free Zone, Katunayake for reprocessing and re-export as legally permitted by the Hub Act. The actual owner and the key stakeholder of the said cargo is […]
Sri Lanka vehicle registrations down in June 2019
Jul 22, 2019 (LBO) – Sri Lanka’s vehicle registrations across most categories have declined in June relative to May, a new report shows. Data compiled by JB Securities equities research shows a drop in 2-wheeler registrations have driven down the total to 26,201 the lowest on record over the past 36 months. The slowdown and […]
SenzMate, the Internet of Things tech company born in Jaffna
By Jekhan Aruliah I visited SenzMate a few months ago, and am only now getting around to writing about them. The reason for my hesitation has been although this is a Jaffna born company it is no longer in Jaffna. My objective in these articles is to root for businesses to move North. SenzMate had […]
‘s Sinopec sets up fuel oil unit in Sri Lanka
July 16, 2019 (LBO) – China Petroleum and Chemical Corp, Sinopec Corp has launched a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route, foreign media reported. Sinopec says the market to supply fuel to ships has “huge” potential, citing the strategic location of Hambantota […]
Govt. nod for cable cars in hills
Jul 04, 2019 (LBO) – Sri Lanka’s cabinet of ministers has approved a cable car project in Nuwara Eliya, a statement said. The project will run from Nanuoya, in the islands central hills to Gregary Lake through Single Tree Mountain, a statement on cabinet decisions said. “Outdoor Engineering Lanka Pvt.Ltd. and its foreign Partner Dopelme […]
Sri Lanka launches USD2.2Bn LRT project to modernise city dwelling and transportation
Jul 04, 2019 (LBO) – The government launched the Malabe and Colombo Fort Light Rail Transit (LRT) project with the aim of modernising the city’s transpotation system. The Ministry of Megapolis and Western Development launched the project in the presence of Prime Minister Ranil Wickremesinghe, yesterday in Colombo. The construction work is due to commence […]
Hyrax Oil lubricant blending plant declared open in Muthurajawela
Jun 24, 2019 (LBO) – Prime Minister Ranil Wickremesinghe declared open the Hyrax Oil lubricant blending plant in Muthurajawela today. The is the second of its kind which has been built outside Malaysia by Hyrax Oil with a 30 million US dollar investment. The plant is a Build, Operate and Transfer (BOT) investment and the […]